EFG Asset Management North America Corp. Cuts Stock Position in Nova Ltd. $NVMI

EFG Asset Management North America Corp. trimmed its position in shares of Nova Ltd. (NASDAQ:NVMI) by 34.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,319 shares of the semiconductor company’s stock after selling 7,368 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Nova were worth $4,571,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Royal Bank of Canada grew its stake in Nova by 660.4% during the 1st quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company’s stock worth $1,966,000 after purchasing an additional 9,265 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Nova by 51.6% during the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after buying an additional 128 shares during the period. Farther Finance Advisors LLC raised its holdings in Nova by 13.8% in the second quarter. Farther Finance Advisors LLC now owns 306 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 37 shares in the last quarter. Signaturefd LLC raised its holdings in Nova by 8.3% in the second quarter. Signaturefd LLC now owns 928 shares of the semiconductor company’s stock valued at $255,000 after acquiring an additional 71 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Nova by 166.3% in the second quarter. Janney Montgomery Scott LLC now owns 3,459 shares of the semiconductor company’s stock worth $952,000 after acquiring an additional 2,160 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NVMI. Evercore ISI lifted their target price on Nova from $290.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Morgan Stanley initiated coverage on Nova in a report on Monday, December 1st. They issued an “equal weight” rating and a $335.00 target price on the stock. Benchmark increased their price target on Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Bank of America boosted their price objective on shares of Nova from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.57.

Nova Stock Performance

Shares of NVMI opened at $462.06 on Tuesday. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.62. Nova Ltd. has a 52-week low of $153.99 and a 52-week high of $475.00. The company has a 50-day simple moving average of $351.91 and a 200-day simple moving average of $314.34. The company has a market capitalization of $13.58 billion, a PE ratio of 60.40, a P/E/G ratio of 2.78 and a beta of 1.84.

About Nova

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.